The Prime Minister of Ukraine discussed improving the business climate with representatives of Austrian companies in Ukraine

The Government commends the practical contribution of Austria and Austrian business to the development of Ukraine’s economy. This was stated by Prime Minister Denys Shmyhal during a meeting with the Ambassador Extraordinary and Plenipotentiary of Austria to Ukraine Gernot Pfandler and a team of Austrian business representatives.

«Despite the pandemic, trade between our countries in the first half of 2021 increased by 67.5% and has already reached USD 966.9 million. We are interested in further development of cooperation as Austrian companies have created thousands of jobs in Ukraine, pay significant taxes, and Austria is among the TOP-6 largest investors in Ukraine stressed Denys Shmyhal.

A number of issues related to improving the business climate were raised during the meeting. In particular, the Head of Government emphasizes that Ukraine is exerting every effort to pursue judicial reform.

Relevant laws have been passed. Despite enormous opposition, the work of the Ethics Commission triggered which is one of the steps that will help cleanse the judiciary. All branches of government, the entire Ukrainian society must make efforts to ensure implementation of this really critical reform

Denys Shmyhal

Moreover, Denys Shmyhal also stressed that the Government had set up an Export Credit Agency to support business in Ukraine. 

President of Ukraine Volodymyr Zelensky and Ambassador of Austria Gernot Pfandler

We are just beginning this journey, but we are always ready to involve business and accept appropriate proposals for the development of the agency.

Denys Shmyhal

Among other things, the parties discussed the issue of increasing permits for international freight. The Prime Minister noted that Ukraine had raised this issue at the level of the European Union, was engaged in an active dialogue with Poland, and a relevant bilateral working group had been set up. The Head of Government expressed confidence that this issue would be resolved soon.

During a conversation with representatives of the banking sector, the Prime Minister noted that the state had eased the conditions for obtaining mortgage loans at 7%.

Our goal is to stimulate the development of the primary construction market so that banks can more actively issue mortgage loans at 7%.

Denys Shmyhal

In addition, the Prime Minister stressed that the development of energy efficiency is a critical issue of today, especially against the background of the global energy slump. Denys Shmyhal said that a large-scale energy modernization program would be implemented next year at the initiative of President Volodymyr Zelenskyy, and called on Austrian businesses to join these projects.